Western Sydney’s plans for expansion and multi-billion-dollar investment over the next two decades is driving property investors from across Sydney and interstate into the South-West.
Ernst & Young says construction of Western Sydney Airport alone should generate an extra $1.9 billion in value-add for the Western Sydney economy, with a further $140 million across the rest of Sydney.
Craig Barnes, of developer Sekisui House, said: “GledswoodHills is in the epicentre of Western Sydney’s Growth Corridor.
“Investment is evident on all fronts and growth in the region is progressing at a rapid rate.
“Aside from the new airport and the airport hub, local infrastructure projects and amenity development are well under way, including major road and rail upgrades, new schools, hospitals and shopping centres.
“Investors are recognising opportunities here. Gledswood Hills is within a 15-kilometre radius from the airport and is an appealing investment for local, wider Sydney and interstate buyers.”
REA Group figures indicate the median price point for a home at Gledswood Hills is $800,000, with annual growth of 9.4 per cent.
Land values (per square metre) at The Hermitage estate at Gledswood Hills have on average increased by over 200 per cent since 2012.
“The South-West is still relatively affordable when compared to like-for-like developing regions, such as the North-West. The South-West offers excellent jobs prospects via development of roads, rail, airport and airport hub, accessibility to Parramatta and Sydney and the beautiful South Coast beaches.”
The population in the South-West is due to grow exponentially, with about 300,000 new residents by 2031, according to the state government, which has committed to investing over $3.6 billion in its Western Sydney Infrastructure Plan over 10 years.
“This activity is creating job opportunities and business prospects, many of which will align with the airport hub. New local masterplanned communities nearby will continue to benefit from the expansion as more funds are invested in the region.”